Citigroup Inc. Has $11.24 Million Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Citigroup Inc. grew its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 26.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 167,375 shares of the real estate investment trust’s stock after purchasing an additional 35,337 shares during the quarter. Citigroup Inc. owned about 0.09% of Equity LifeStyle Properties worth $11,236,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Equity LifeStyle Properties by 0.7% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 31,925 shares of the real estate investment trust’s stock valued at $2,143,000 after buying an additional 229 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of Equity LifeStyle Properties by 8.3% in the first quarter. Oppenheimer & Co. Inc. now owns 3,800 shares of the real estate investment trust’s stock valued at $255,000 after buying an additional 291 shares during the period. Private Advisor Group LLC bought a new stake in shares of Equity LifeStyle Properties in the first quarter valued at about $214,000. Pring Turner Capital Group Inc. lifted its stake in shares of Equity LifeStyle Properties by 6.3% in the first quarter. Pring Turner Capital Group Inc. now owns 55,972 shares of the real estate investment trust’s stock valued at $3,757,000 after buying an additional 3,342 shares during the period. Finally, L & S Advisors Inc lifted its stake in shares of Equity LifeStyle Properties by 21.0% in the first quarter. L & S Advisors Inc now owns 124,010 shares of the real estate investment trust’s stock valued at $8,325,000 after buying an additional 21,510 shares during the period. 98.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ELS has been the subject of several research reports. StockNews.com initiated coverage on shares of Equity LifeStyle Properties in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Truist Financial raised their price target on shares of Equity LifeStyle Properties from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. Barclays cut their price target on shares of Equity LifeStyle Properties from $79.00 to $78.00 in a research note on Thursday, July 6th. Royal Bank of Canada cut their price target on shares of Equity LifeStyle Properties from $70.00 to $69.00 in a research note on Wednesday, July 19th. Finally, Robert W. Baird cut their price target on shares of Equity LifeStyle Properties from $79.00 to $76.00 in a research note on Wednesday, July 19th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.21.

Equity LifeStyle Properties Stock Performance

Shares of Equity LifeStyle Properties stock opened at $67.11 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.03 and a quick ratio of 0.03. The firm has a market cap of $12.50 billion, a P/E ratio of 43.86, a P/E/G ratio of 4.79 and a beta of 0.69. The firm has a 50 day simple moving average of $68.04 and a 200 day simple moving average of $67.27. Equity LifeStyle Properties, Inc. has a fifty-two week low of $56.91 and a fifty-two week high of $74.40.

Equity LifeStyle Properties (NYSE:ELS) last released its earnings results on Tuesday, July 18th. The real estate investment trust reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). Equity LifeStyle Properties had a return on equity of 18.86% and a net margin of 19.53%. The business had revenue of $370.01 million for the quarter, compared to analyst estimates of $325.08 million. During the same period in the prior year, the firm posted $0.64 EPS. Equity LifeStyle Properties’s revenue was up 1.3% on a year-over-year basis. Sell-side analysts predict that Equity LifeStyle Properties, Inc. will post 2.85 earnings per share for the current fiscal year.

Equity LifeStyle Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a dividend of $0.447 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.79 dividend on an annualized basis and a dividend yield of 2.66%. Equity LifeStyle Properties’s dividend payout ratio is 116.99%.

About Equity LifeStyle Properties

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of July 17, 2023, we own or have an interest in 450 properties in 35 states and British Columbia consisting of 171,706 sites.